MSCI: U.S., Canadian Shipments Surge in January
Shipments of steel and aluminum from service centers in the United States and Canada surged in January, according to the latest Metals Activity Report from the Metals Service Center Institute, Rolling Meadows, Ill. Sequential, month-end inventory levels also rose for both metals in both nations.
Steel shipments from U.S. service centers totaled 3.42 million tons in January, up 32.5 percent from the same month in 2010 and well above December shipments of 2.82 million tons. U.S. steel inventories at the end of January totaled 8.03 million tons, 28.3 percent larger than January 2010 stockpiles and equal to a 2.4-month supply.
In Canada, January steel shipments from metals centers totaled 545,100 tons, a rise of 22.7 percent from year-earlier volume and substantially higher than shipments of 380,800 tons in December. End-of-month inventories of 1.48 million tons were 25.1 percent above stocks at the end of January and equal to a 2.7-month supply.
January aluminum shipments from U.S. service centers of 121,400 tons were 29.7 percent above year-earlier shipments and well ahead of December shipments of 100,300 tons. U.S. aluminum inventories at the end of the month totaled 352,900 tons, 38.7 percent more than at the end of January last year and equal to a 2.9-month supply.
Canadian metals centers shipped 12,000 tons of aluminum in January, or 13.4 percent more than a year ago. Inventories at the end of the month totaled 31,600 tons of aluminum, a scant 4.0 percent more than a year ago and equal to a 2.6-month supply.